Friday, February 18, 2011

Bulls Keep Running

All three major US stock indices finished up for the third strait week. The Dow Jones Industrial Average closed at 12,391.25, the highest the index has closed since June 5, 2008. The NASDAQ Composite closed at it's highest mark since October 31, 2007. The tech heavy NASDAQ finished the week at 2833.95. The S&P 500 stock index gained (1343.01, +2.58, +0.19%) today to finish the week at it's highest level since June 17, 2008.

Caterpillar Inc (CAT), one of 2010's best performing stocks, shares led the charge for the Dow today by adding 2.4% on some stellar numbers. Surprisingly positive earning reports have almost become expected on Wall Street this year. After a third strait week of gains the talks of a pull back are once again growing in popularity. Are investors willing to keeping riding this bull, or will they do some profit harvesting and stop to catch their breath? We will not get an answer until Tuesday, because US markets will be closed Monday in observance of Presidents Day. Enjoy the long weekend.